Les McGehee: Double Your Mortgage Business Webinar

Guests: Les McGehee, Daniel Ramsey
Recorded: August 13, 2019

Excerpt

Meet Les McGehee, an award-winning professional mortgage & real estate coach from the Rialto Academy who joins us to explore ways mortgage brokers can work more efficiently, build better relationships with real estate professionals, and utilize mortgage virtual assistants to leverage their time & close more transactions effectively!

Les is an experienced real estate & lending coach who’s presented at thousands of events across the U.S. and internationally. As the president of Rialto Academy, he’s led custom programs for the Jack Welch Management Institute, J.P. Morgan Chase, AT&T, University of Texas, Dell, Baylor Scott & White Health, and many other major companies.

Les is also the author of “Plays Well With Others” and co-creator of the “The ONE Thing Trainer Certification program” based on the bestselling book, The ONE Thing, by Gary Keller and Jay Papasan. In addition, he works as a mortgage broker & real estate coach, and over the years, he has helped countless clients find success through clarity, accountability, passion, and diligence.

Les gives us the Rialto Academy tools: the Business Basics, the Quarterly Plan, and the See it to Believe it PLUS a FREE Rialto Academy Business Assessment with a Master Coach, valued at $250!

Transcript

00:00:03:05 – 00:00:37:00
Daniel Ramsey
Hey, everybody. Daniel Ramsey here with MyOutDesk. I’m really stoked today because we have a bit of a special guest. First of all, if you do not know, my Outkast helps companies scale their business instantly. And what’s wild is we’ve been in the real estate world and we’ve helped a ton of people. But today is different. Today is a new day and we’ve got a mortgage professional on and it’s kind of a cool thing because over the last couple of years we’ve been secretly adding clients to the mortgage world, and today we have the pleasure of having less.

00:00:37:00 – 00:01:03:20
Daniel Ramsey
McGee. He’s the president of Rialto Academy. It’s a coaching and a training company that helps businesses professionally recruit, grow, lead, generate, produce, build culture, succeed and even exit their business. And so what’s cool about West and if you didn’t know this about this guy, first of all, he’s really funny. Check him out on YouTube. He’s got like a Brazilian improv comedy, stand up stuff.

00:01:03:21 – 00:01:20:16
Daniel Ramsey
Let’s you’re hilarious. I was like, oh, so much fun watching that stuff. But guys, if you’re here today, today’s value, we’re calling it Double My Mortgage Business Less. Thanks for joining us today and sharing so much value with this audience.

00:01:21:15 – 00:01:33:05
Les McGehee
Yeah, thank you. Dan, I’m really happy to be here and thanks for telling me how funny I am. It really makes my ego good. We’re going to have an extra good class today because my ego and pumped we.

00:01:33:05 – 00:01:52:21
Daniel Ramsey
Might do that at the end. Let’s look at a little special gift. Not only will we tell some jokes at the end, this is going to, you know, teach me how to do some improv. But what’s cool, too, is if you say stick around, we never do these things without giving lots of value away. Less is giving three tools.

00:01:52:22 – 00:02:14:22
Daniel Ramsey
If you’re a mortgage professional and you want to double, he’s giving away three tools to do just that, as well as offering folks an opportunity to have a professional consultation with him and his team, which is a lot of value. He tried to put a number on and I was like, No, no, no. It’s thousands of dollars worth of value if you can make one shift.

00:02:14:22 – 00:02:25:14
Daniel Ramsey
And here is the reason we’re meeting today less. We got the lay of the land. Tell us a little bit about what value you’re going to drop today in today’s call.

00:02:26:10 – 00:02:48:15
Les McGehee
All right. That sounds great, Dan. So let’s take a look at where we are as an industry. And we were able, with our simple techniques in the last calendar year, we were able to grow our mortgage clients by in our small boutique company by $127 million of production. And so, so these things are proven and they’re coming along well.

00:02:48:15 – 00:03:11:11
Les McGehee
And here’s what the lay of the land looks like. Yet having said that, here’s where we are in the 2017 numbers, the 2018 numbers are very similar. They’re slightly higher yet. They’re extremely similar. And I’d like you to spot some relationships between these here. So loan officers making a median salary of 65,000 there in 2017. We’re going to compare that same year.

00:03:11:17 – 00:03:35:10
Les McGehee
All right. So in that same year, the bottom 25% of our lives are making 45,000. And the top 25% of those are making 94,000. It’s not lost on us that that’s a doubling from the lower quarter percentile to the upper quarter percentile is a doubling. And then if we were to take that top 25% and divide it in half, look at the top 12 and a half percent, we’d see that it doubled again.

00:03:35:23 – 00:04:06:21
Les McGehee
So we’re very aware that the mortgage industry is stratified among businesses that are doubling to get to the next layer. And so we took a deep dove in what it takes to double a mortgage business. When we look at it in number of notes, that’s typically 18 to 40 notes in a year for a loan officer. And one of the things that’s most interesting about this industry and going through quite a shift right now is that average tenure for you guys, average tenure for your loan professionals is running about two years or less in some environments.

00:04:07:08 – 00:04:21:06
Les McGehee
Some of the companies that are recruiting really well have this very interesting criteria, which is we’ll take an interview with anybody whose last loan job was productive and lasted more than three years. How’s that for rocket science? Yeah.

00:04:21:18 – 00:04:22:09
Daniel Ramsey
I love it.

00:04:23:14 – 00:04:45:20
Les McGehee
And then this last bullet point is something I’d really like our participants to digest, which is that most loan officers have a realtor database but don’t communicate with their client databases regularly. This is going to be one of the largest mechanisms that divides the businesses. Ready to double from the business is not ready to double right now. Mortgages, mortgage companies.

00:04:45:20 – 00:05:13:08
Les McGehee
Of course, we’re interested in focusing on our realtor database. Of course we are. Yet I’ll give you an example that one of our large real estate, one of our large mortgage clients, has a fantastic real estate database, and they weren’t using their own client database and they were taking satisfaction surveys from their processing, though, and their satisfaction surveys were running over 85%, which is pretty good for mortgage.

00:05:13:08 – 00:05:38:22
Les McGehee
It’s a stressful process, right? It’s stressful, lengthy, unpredictable, sometimes process for some close more than others. Yet they had a high approval rating. Right. And and digging into how big and how recent the database was in their case, they had been in business long enough that there were 30,000 happy clients in that database that were not being spoken to.

00:05:39:11 – 00:06:05:22
Les McGehee
Right. So that was over a period of 20 years that they’d been in business. Well, let’s do some math here. Okay. Do you know what the average tenure in a home is in your environment? The realtors there, you can ask your realtor, but if you don’t know how to Google. Well, if you can Google, though, you’ll find that your state level na na self and sometimes the MLS will reveal that information pretty regularly.

00:06:05:22 – 00:06:34:05
Les McGehee
Sometimes even city sites will reveal to you how often people are moving in your environment. Well, it’s not uncommon in in a popular area for that to be about seven and a half years. Okay. So if we take this logic that this company, we were helping to double had 30,000 people in the database and some of them had been in there for 20 years, then they had been missing the next note, starting 12 and a half years ago, every single year.

00:06:34:14 – 00:06:58:20
Les McGehee
Right. And the amount of business laying in there was just massive and, you know, sometimes we’re nice. We’re really nice guys. You know, you were calling me funny. That’s nice. Dan Sometimes we’re nice guys or something. Not too nice. So what we said to that mortgage company was we figure you have two options. One is speak to your clients and accept their business and service them forever and make that money and take care of them.

00:06:59:10 – 00:07:18:14
Les McGehee
The other is just stop telling them that they found the mortgage professional that’ll take care of them for the rest of their life. Because we can’t have you being liars and weakening the industry if you’re not really going to speak to them, just don’t say it. Okay, functionary and leave the rest of us alone who are going to keep talking to our clients and probably yours, right?

00:07:18:19 – 00:07:42:13
Les McGehee
And we’re going to pull that business out of them. There’s roughly two pieces of business for every 12 people in that client database. Right. And we get to draw on all those real estate numbers that fueled knowledge about when they’re going to buy again. And you get to use that information to make sure that you’re there for them and giving value and not just talking to realtors.

00:07:42:18 – 00:08:00:20
Les McGehee
Now recognize what happens when you do this. All right. I know this is the overview yet. This is the this is the meet here. Okay. Recognize what happens when you do this? Are you calling your realtors and touching your realtors in a database saying, do you have any business for me now? How about now? Today’s Thursday? Do you have any business for me today?

00:08:00:20 – 00:08:27:06
Les McGehee
Are you talking to them that way or are you contacting them to say, I have three new listing leads from my own database, I’ll give them to you and let’s set things up. And how motivated do you think those realtors are when you’re when you manage a community that you pull business out of, that everybody comes in smiling and ready to go with your referral instead of you just asking for more business or sending a basket of fruit over to the real estate office every week.

00:08:27:17 – 00:08:33:01
Daniel Ramsey
Right, right, right, right. But less. I like buying leads online.

00:08:33:24 – 00:08:59:07
Les McGehee
Yeah, well, I’m glad you do, because somebody’s got to keep those businesses afloat. And it’s not me. We’re not going to buy those leads online. You know, if you’re a first year business, second year business, third year business, it’s possible that you’re going to augment your lead gen like that. It’s possible yet once you’re operating, are you keeping these people forever?

00:08:59:22 – 00:09:30:12
Les McGehee
Are you recruiting people to the forever machine where they know that their issues are solved, their siblings issues are solved, their children’s issues are solved, their parents downsizing issues are solved. And you’re 100% ready to go. Interest rate goes this way or that way or scary headlines. Meet the newspaper and you got a great note coming to them in this month’s database saying making sense of what the Fed just said or something like this.

00:09:31:03 – 00:09:32:19
Les McGehee
Valued people. Yeah.

00:09:33:06 – 00:09:57:06
Daniel Ramsey
You know, it’s funny. This is such a great topic. I’ve got two like silly stories, right? So I’m a mortgage broker. I’m I’m doing a loan for Wells Fargo. I’ve got a line with them. And the underwriter said, you know, in the conditions says you have to change the toilet seat and I call her up because I’m a friend and I’m like, hey, are you sure?

00:09:57:06 – 00:10:20:13
Daniel Ramsey
I mean, this is a $3 toilet seat and it’s cracked. Yeah, it’s cracked. But, you know, they’re they’re putting, you know, it’s like a 60% LTV. So are you sure you’re going to make me change this toilet seat? So one of the challenges right now is how hard the business is and all the paperwork and all the all the toughness around closing deals.

00:10:20:20 – 00:10:40:08
Daniel Ramsey
And I just I’m curious, less how do you how do you work with somebody to shift that mindset? Because that’s that’s my experience with being a loan officer. It was hard. There are a lot of conditions. Even the A paper 800, you know, credit scores, you know, layup stuff. It’s it’s getting tough now, you know.

00:10:41:07 – 00:11:13:20
Les McGehee
Yeah, I would agree with that. Yeah, I would say it’s simple and that’s something we’re really fortunate about that we know how to do simple. We know how to increase our focus work core disciplines, focus on productivity, database measures, language, you know, so, so we like simple yet simple doesn’t guarantee easy. So yeah, it is challenging. As a matter of fact, if you look at this number on our screen here, about 25%, the lower the lowest 25% of all those making 45,000 on the year.

00:11:14:02 – 00:11:21:12
Les McGehee
I don’t know where you yet how’s it living on 45,000. Where I know where you live. Dan It’s like living only 5000 in Sacramento.

00:11:21:18 – 00:11:23:03
Daniel Ramsey
Yeah, yeah. It’s impossible.

00:11:23:19 – 00:11:46:11
Les McGehee
Yeah. Austin, Texas. You would. You’d have to cancel your cable, right? You know, there’s no parks for you at 45,000 in Austin, Texas, either. And we’re not even talking yet about San Francisco, Chicago, New York City, you know, even downtown Houston. Right. So so when we’re talking about the bottom 25% of all those making 45,000, that’s going to be straight with each other.

00:11:46:11 – 00:12:08:23
Les McGehee
We’re professionals. Okay, let’s be straight with each other. Those people are at risk of having no career at all. Okay. The top the bottom to the top 25% is making close to 100. So they’re functional. Yet the bottom 25% is really at risk. Unless they’re part timers, they’re really at risk of having no job at all. And so, yeah, it’s challenging and I agree with you that it’s tough.

00:12:09:04 – 00:12:31:15
Les McGehee
Yet here’s what’s even tougher. We are at one of the highest ratios of number of licensed loan officers to the amount of notes being written than we’ve been in recent history. We’re on the wrong side of the supply demand curve. Right. You know, is Bob Bob watching us today? Bob, sorry to use your name. Yeah, Bob watching us today would have every reason to look at that.

00:12:31:20 – 00:12:40:00
Les McGehee
And if Bob is in that bottom 25%, I venture to guess that even though we love Bob, it’s a bad day to be Bob.

00:12:40:00 – 00:12:53:14
Daniel Ramsey
Oh, yeah. Well, I like Netflix, so show me how to keep my cable and my Netflix account going if I’m low, even though it’s hard and the numbers are stacked against me.

00:12:54:12 – 00:12:59:19
Les McGehee
Well, that’s absolutely right. Sure. I’m going to take us to the beginning of the presentation and run through some slides down.

00:13:00:08 – 00:13:01:20
Daniel Ramsey
Beautiful. Beautiful.

00:13:02:09 – 00:13:26:11
Les McGehee
All right. So here we are, bridge the Gap. I’ll explain that in just a moment. That’s GAAP. So bridge the gap to double your mortgage business. What is the gap? And more specifically, what’s the gap going to be for your business? This is a an answer that is unique to the individual, right. So the gap is the space between here and where you intend to be next.

00:13:26:11 – 00:13:49:08
Les McGehee
And I’m going to teach you real quick how to do this. So you’ll need a pen and paper, make sure you have ability to write notes. And, by the way, never show up to something with multiple professionals in it without your notebook to take notes. All right. Be the best book you’ve ever read is your book later on this year yet the I’ll show you how to do this in a in a moment so we’re going to identify the next level of our business.

00:13:49:08 – 00:14:08:17
Les McGehee
We’re going to review the gap between here and there so we understand what it is we’re bridging. Then we’re going to implement a couple of simple steps needed to cross over to there. We’re like Dan said in these, right? Some of them will be easy. Some of them will not be easy. All of them will be relatively simple, though, right?

00:14:08:17 – 00:14:27:13
Les McGehee
All these proven concepts are simple. And then we’re going to bridge that gap and cross over to where we intend to be. All right. So this is a document that I created. It’s called the it’s a portion of a document that you’re receiving when you sign up for your mortgage business assessment. It’s called the Rialto Way, named after our company.

00:14:27:13 – 00:14:53:14
Les McGehee
And in the Rialto Way, we’ve identified that in the home sales industry, you know, we do a lot of training and coaching. On the real estate side, we have several of the biggest inspection association and organizations as well, also title and insurance. We also help a lot of the insurance companies because we’re very interested in growing home sales, not just thinking of mortgage and real estate and title.

00:14:53:21 – 00:15:16:00
Les McGehee
Yet we recognize that you’re on a team of industries that supplies one of the most important economic drivers in America and the most important interval of human beings lives. And so I’ve got five children. I’m about to send you buying houses in the next few years. And so, by all means, let’s do a good job as a home sales industry, not just mortgage, not just real estate.

00:15:16:00 – 00:15:16:18
Les McGehee
So we’ve got that.

00:15:17:02 – 00:15:47:01
Daniel Ramsey
Hold on. Regardless, I got the screen is showing up. Right. But you just said something. If you’re a mortgage or a loan officer or leading a large team or maybe even, you know, representing an area like the West or California or some large area, this stat is nuts because what you said is absolutely right. Every single time the house turns over, it represents $76,000 of economic engine to that local economy.

00:15:47:13 – 00:16:14:13
Daniel Ramsey
Houses get bought, cars get done, remodels get done, furniture gets bought, clothing like it’s wild when people buy or sell a home, their entire wardrobe changes. They change their cars. All their everything gets upgraded. And so as a loan officer, you need to realize how much opportunity is in that $76,000, giving them referrals to people that and building a community, like you said.

00:16:14:13 – 00:16:17:18
Daniel Ramsey
And there’s just so much value in owning that transaction.

00:16:18:21 – 00:16:51:08
Les McGehee
You know? That’s right. And there’s I think there’s very little to compare it to in combination of economic impact and human being impact. You wanted to do something fantastic of a of a business nature for your area. There’s very few places to be as effective as the person who gets the loans for the people moving from one house to the next in your city, the amount of money it contributes, like you said, Dan, and also what it means for those human beings and what the two of those things mean together for you.

00:16:51:08 – 00:17:15:20
Les McGehee
If you are good at binding people to your company, consistent outlay for retention and giving them value, I bet. I bet that less than well, I say bad as if I don’t know. I know that two thirds of the people watching us today do not use database for their own clients. It would be really rare if less than two thirds of these people are skipping that huge opportunity.

00:17:16:05 – 00:17:34:23
Les McGehee
And if you have ever, ever, ever had a month where you wish you had more notes to close, ask yourself, Did I speak to everybody who ever said thank you? Do I still have a conversation going with everybody who ever said thank you? And if the answer is no, well, come on over here. The weather’s the weather’s nice.

00:17:34:23 – 00:18:03:22
Les McGehee
Come on over. All right. So these ten items exist in every business of the home sales industry that we have ever doubled. And we’ve doubled quite a few of them over here. We consult as well as coach and train, and we also publish a lot of the learning platforms of these industries. And so you have the number seven, eight and nine that is unique to you guys and to us growing mortgage in a very specific manner because those are those loan applications.

00:18:04:05 – 00:18:33:18
Les McGehee
If that was a realtor, it would say closing to contract, operating the contract and closing on the home purchase. And so recognize that seven, eight, nine are our functionary moment, right? That’s where we’re functionary as professionals, as technicians and if you have extra happy to meet you today, if you have previously thought that that’s what loan officers do, because I’m here to tell you, it’s about 30% of what loan officers do.

00:18:33:22 – 00:19:04:02
Les McGehee
Okay? If you don’t do well at underwriting applications, getting applications, funding and closing, well, then we’re concerned about you being in the industry. Yet if you are learning your skills well enough and you’re into growing your business, you’ll see that you have 70% of your business is outside of that contracting interval. All right. So you look at the top and what I recommend you to do right now, this is your first growth exercise is on your own notes.

00:19:04:02 – 00:19:20:18
Les McGehee
Give yourself a rating on a score of 0 to 10 for each of these items, as I say them, and I will show you how to analyze that real quick. So number one is you’re the entrepreneur and you own your business. All right. So what’s that vision for that business? Do you have a big picture in a small focus show?

00:19:20:22 – 00:19:47:08
Les McGehee
A big picture of the value of what we do and a small focus for exactly how I’m going to do it, because that’s what brought you to the business world, I would imagine most of us, right, meet you. And then second, you have dialogs, techniques and closings. How are you going to express that vision? You have a unique value proposition and a way to talk to clients that is compelling and brings the business in and has them understand what it is that you’re bringing to the table and why they intend to work with you.

00:19:47:19 – 00:20:12:16
Les McGehee
Right. And then we get into four items in a row, number three, four, five and six. That has to do with acquisition of the client. All right. We are in the lead generation business. These people want loans and really hope that you find them before a lesser mortgage agent who’s going to do a horrible job. The loan officer nobody wants might be better at finding them than you are.

00:20:12:19 – 00:20:32:04
Les McGehee
You need to get there and find these people and help them. What are you waiting for? It’s stressful. Waiting for a note for your house and. And and. And if you listen carefully, I hope you haven’t forgotten. If you listen carefully, you can hear how immensely grateful they are that you’re a good professional and a good person. The thing is, you got to get to them first.

00:20:32:16 – 00:20:54:08
Les McGehee
70% of mind share, 74% in a lot of studies, 74% of mind share is going to the person at top of mind. So if there’s another person in their world that isn’t good for them that’s talking to them about handling their home loans, that person has a 74% head start on you. The second place mind share is running about 20% in most places.

00:20:54:16 – 00:21:25:11
Les McGehee
As you can see, third place mind share would be better off cold calling. All right. So we have to stay in relationship with these people. That’s what we’re doing in numbers three through six there. So in three, we’re reaching out, prospecting with marketing, enhanced approach. We’re reaching out to find clients in the fourth item, their lead identification. We’re seeing who is ready, willing and able, who’s going to do business next month, who I’m going to keep in the database because they have a big move in their future.

00:21:25:18 – 00:21:45:21
Les McGehee
So we’re doing something appropriate with that lead. How are you doing on that? On a scale of 0 to 10? And then number five, we’re converting people to appointments so that we can have pre-application conversations. We’re bringing them over. And then six is very important and a lot of loan officers haven’t thought about it yet is leverage. Leverage.

00:21:45:21 – 00:22:14:23
Les McGehee
We’re so lucky to have with us on the call today a couple of experts that love leverage. One of them would be this handsome young man. Dan, I want to give a shout out to my out desk. If you have not considered how many things that you do, let’s say you make $100 an hour. As a loan officer, have you considered how many things that you do that you would never, never pay somebody $100 an hour to do, ever put the numbers in boxes at the end of the month?

00:22:14:23 – 00:22:33:03
Les McGehee
So you’re ready 12 months from now for taxes. Would you pay somebody $100 an hour to do that? And here’s here’s the quick test on the leverage question here. We’re still in lead generation with the leverage question. If you could have somebody that costs more like $20 an hour and they loved it and they were better at it than you.

00:22:33:21 – 00:22:57:15
Les McGehee
All right. And you used to spend $100 by doing it yourself for an hour. Now they do it for $20. How far ahead are you now? Some of you just thought $80 that your head $80 and you’re confused. All right. Let me explain. You saved $80, but you got your hour back. You get to go make another $100 because you make $100 an hour.

00:22:57:21 – 00:23:22:08
Les McGehee
So that’s $180 difference in leverage world, $180 opportunity by replacing yourself with somebody better than you trained at a high level, like the fantastic people at my out desk that I use and I recommend that you use. That’s a great example of leverage. Another example is hire an assistant, train them up yourself, and leverage also include systems to speak to these people.

00:23:22:08 – 00:23:44:01
Les McGehee
You’ll have a CRM, you’ll have a database that helps you. So how are you doing in that category on 0 to 10? Then you have the three contracting items we talked about where you’re getting their application in good order and funded. How are you doing on those three steps? 0 to 10. Now there comes that moment afterwards where they say, Oh my gosh, that’s one of the most stressful things I ever did in my whole life.

00:23:44:01 – 00:24:05:13
Les McGehee
You were so good at it. I cannot believe how good you were at that. We’re so lucky it was you. And in that moment, that victory moment, as we call it, did you get a referral, a commitment to repeat or a testimonial? So Dan mentioned that I have a background in show business and it was a high mileage background.

00:24:05:13 – 00:24:26:08
Les McGehee
I developed shows for Imagine Entertainment. I’ve toured in 15 countries. I did 7000 appearances. All right. Now, one of the things I like to do is there’s a couple of really good regional theaters. When they did an original production, they’d like to bring me in as the comedy ringer and launch their original production. So I got to work in these really nice, high paying regional theaters, too.

00:24:26:13 – 00:24:45:03
Les McGehee
So imagine this for me. Look at me. All I want to wear is one shirt, a jacket and a nice pair of pants. That’s all I want to wear yet. I’ll be out there. Maybe the show pretended it was in Siberia, so maybe we’re out there wearing four layers of wool clothing that gets washed every other night in a professional theater.

00:24:45:03 – 00:25:07:10
Les McGehee
And under the lights, it’s 95 or 100 degrees. And at the end of the show, every show you have ever seen that you paid a theatrical level ticket for the cast comes out and accepts applause. Now, I think the audience sometimes thinks that they’re doing it for the performer’s ego. Yet people like me are sitting there, we’re standing there, we’re not a character anymore.

00:25:07:10 – 00:25:28:17
Les McGehee
I’m just left standing there in some really itchy, sweaty clothes. I’d like to go take off when you finish applauding, I get to go change clothes and go home and see my family, go have a beer and get home. Right. And yet I’m going to smile because you need to be able to applaud. So if I did not applaud, I’d take a big part.

00:25:28:23 – 00:25:45:16
Les McGehee
If I did not stand there and accept those applause, the producer would have every reason to fire me. You see how that is? How can I dishonor that audience that way? And they’re not just applauding for me, by the way. And when they say thank you to you, they’re not just applauding for you. They’re saying, we’re so happy at work.

00:25:45:16 – 00:26:05:18
Les McGehee
We were skeptical it was going to work at all. We’re happy we spent $100 on the babysitter today. It was worth it. We really closed. We we get you did good enough that we get to tell our friends we hired a great loan officer that makes us feel good about ourselves and they’re applauding, applauding you. You’re like, oh, my gosh, you guys are applauding a lot.

00:26:05:18 – 00:26:29:10
Les McGehee
I want to go change clothes. All right. Yet, if you don’t accept that applause, you would be doing a bad job. Okay. Straight up loan officer business. When that victory moment hits and you did a fantastic job and they’re filled with gratitude if you don’t let them applaud by giving you a repeat, a referral or a testimonial, you are cheating them out of the closure of the experience.

00:26:29:18 – 00:26:46:07
Les McGehee
That just so happens would have given you all of their future notes. Okay. How are you doing with that? On a scale of 0 to 10, take a look at the scores you gave yourself and recognize this. You’ll probably see some, let’s say you have some eights and nines in there because you’re doing a good job. Isn’t that great?

00:26:46:17 – 00:27:03:03
Les McGehee
Do you have some scores in there that are five or lower or six or lower? Well, every place that you have a lower score recognize that’s how fast your business is able to flow. If you had a two inch pipe coming into your house, it went down to a one inch pipe and then expanded to a two inch pipe.

00:27:03:03 – 00:27:31:23
Les McGehee
Again, you’re getting one inch of water out of that pipe. It business cannot flow and a pipe cannot flow more than its highest point of constriction. So if you have fours or fives on there, even if you have tens peppered all over it, your business is running at a four or five. Okay. So those lower stories that tells you where you’re going to be doing the work so that those nines that you have in there can be the level that your entire business is flowing at.

00:27:31:23 – 00:27:34:08
Les McGehee
So I recommend this list real question.

00:27:34:18 – 00:28:13:08
Daniel Ramsey
I’ve got a real question because I’m I’m sitting here and I’m peeking through it. I’m a loan officer. Let’s say I get through this and I’ve got a couple fours or fives. Are are you saying if I plug those holes? Because I think the reality is most of us on this on this list, we’re probably going to kick butt at like three or four or five of them and then like totally fail at the other ones or our company is going to fail, meaning it’s outside of my control because my processor isn’t really nice to people and she does a fantastic job and like I have to like so my question is, are you certain

00:28:13:08 – 00:28:26:00
Daniel Ramsey
these are the ten that drive results for an ELO? And, and, and how would I know which ones to attack first versus the mean? And in what order do these matter the most, you know.

00:28:26:23 – 00:28:51:21
Les McGehee
Yeah, that’s a perfect question. Thank you, Dan. So if you have any doubts about your ability to qualify and successfully fund notes, stop the presses, go get good at that portion of the job. Can’t be done without that. Now, also, when you look at items three through six, that’s lead generation. You are in the lead generation business. This is what you signed up for you.

00:28:51:24 – 00:29:10:23
Les McGehee
Unless your company is feeding you all of your leads, you are in the lead generation business and even if they are feeding you leads, they would be wise to have you bringing in leads through your database as well. Right. And so those two areas come to mind. First of all. Yeah, what you’re saying about if you have a four in there, is that where you go to work?

00:29:11:05 – 00:29:39:02
Les McGehee
Yes. Until that is brought up to the level of your other scores, your business doesn’t have an opportunity to flow at its highest level. And you’re probably going to uncover more things when you start to accelerate. You know, if you’ve been going 30 miles an hour, you don’t know if your wheels are aligned on the car. When you get up to 70, you’re going to find out how well those wheels are aligned and those cars that are going 220 miles an hour around the track, they’re Zen masters.

00:29:39:02 – 00:29:48:19
Les McGehee
They are way aligned. Right. So there is more growth to be had once you straighten out the flow. Yet if you don’t straighten out the flow, those other things aren’t available to you.

00:29:48:19 – 00:30:10:24
Daniel Ramsey
I get it. So to break this down, it’s like you’ve got to have the dialogs to qualify people. So you’ve got to have you got to have a big why or a reason. So that’s number one. And then two, you’ve got to have the skill set to actually talk to people about loans. And then the next thing is for sure, lead generation, because without people you don’t have notes.

00:30:11:22 – 00:30:21:00
Daniel Ramsey
And then after that it’s leverage both systems and people and then it becomes servicing and repeat and referral. That’s the stacking order.

00:30:21:08 – 00:30:29:08
Les McGehee
That’s the way that’s the way we have solved it for a great many people. And it’s about as dependable as Sunday is. The seventh day of the week.

00:30:30:24 – 00:30:32:10
Daniel Ramsey
You’re funny days of it.

00:30:33:06 – 00:30:52:11
Les McGehee
And so they’re square one. Okay, so if you did this exercise, you now have a snapshot of where you’re bleeding profusely. So if you have some business coach or some consultant telling you, hey, all you have to do is these easy steps, recognize that they that’s like you going to the hospital with a broken leg and they skipped the emergency room.

00:30:52:19 – 00:31:01:11
Les McGehee
Okay, this is the emergency room. If you’re bleeding profusely from one of these ten items, that’s going to have to be repaired before you can start getting healthy and go to physical therapy.

00:31:01:17 – 00:31:27:13
Daniel Ramsey
Yeah, you just did. You basically just when you go into a doctor’s office, they say, what’s wrong with you? You just basically did a diagnosis of a business with these ten items and it’s a self assessment. The other I think the other challenge that we have as an industry is, you know, I’m winning, I’m one of the best, you know, and they don’t they’re not honest with themselves about how these ten different things.

00:31:27:13 – 00:31:46:21
Daniel Ramsey
So how do you break through that like the reality of and and the other piece is all I know or the people in my office. So it’s not like I can compare myself to a guy in New York or a guy in Texas or a guy in Minnesota who’s crushing it. I don’t really see somebody who’s doing tens throughout all of these, so I don’t know.

00:31:46:21 – 00:32:13:02
Les McGehee
Right. Yeah. Well, if you lack role models, that’s definitely an issue. And you can open your mind to some role models. And what I hear you describing, Dan, that I know you understand well on a personal level is mindset. That mindset and belief is everything. So the modern business growth perspective started in the thirties, and one of the early books that did a really good job was Napoleon Hill Thinking Grow Rich.

00:32:13:12 – 00:32:36:14
Les McGehee
And what they point out in there that was just earthshaking at the time was if you don’t believe it and find examples to to install in what you’re doing, it’ll just never happen. The idea that you receive it when you don’t believe it and you’re not ready to receive it. So this technique we just did is about readiness to receive the business will flow if we if we fuel it.

00:32:36:22 – 00:32:56:10
Les McGehee
Right. And yet if you don’t believe it, it’s just never going to happen. And and one of the things that stops that mindset, Dan, is people feeling like a role model. I was talking to someone the other day. I said, what would Warren Buffett say about that? They were talking about an investment. And I said, what would Warren Buffett say about that?

00:32:57:03 – 00:33:19:13
Les McGehee
And they said, Well, it’s not like I want to be like Warren Buffett. And I said, Well, that’s convenient because I think it’s really unlikely you’re going to end up being like Warren Buffett. Okay. You know, role modeling is a lot smarter and more specific than that. You’re a unique person. You’re going to be you. Warren is going to be Warren and he’s going to be and yet Dan does some things really well.

00:33:19:13 – 00:33:38:16
Les McGehee
Look at how well he communicates. Look at how he reaches out to people with valuable information that he can build relationships over. So there are things about Dan, you could role model. There are things about Warren you good role model. You don’t have to dress like a mini McDonald’s every day to pick up good tips from his behavior.

00:33:38:19 – 00:33:39:05
Les McGehee
Right?

00:33:39:05 – 00:34:01:13
Daniel Ramsey
Please do so in coke. Please do not drink. Coke is poison. Okay, let’s let’s go on. I love I love this. You’ve basically giving people an exact map to do a self-assessment and actually reflect my one of my favorite things my father in law does is he books and I and I told a client this yesterday, you’ll love this.

00:34:01:19 – 00:34:21:15
Daniel Ramsey
He’s like he’s struggling with big vision. And he just started the leverage piece of his business. And I was like, Well, is your vision very vivid? Are you clear about where you want to be in five years? Are you clear about the life that you want to leave, what you want your business to look like, your kids to look like your wife, to like all the relationships in your life.

00:34:21:15 – 00:34:43:02
Daniel Ramsey
And he’s like, No, I don’t think I am. Well, well. So I asked him, Hey, can you do me a favor? Go find yourself a marriott. I love Marriott and and book yourself in a hotel room in your same city and just and just do a self retreat and then describe your your future.

00:34:44:18 – 00:35:10:02
Les McGehee
Yeah. And some of the challenges. I’ve also had those conversations recently there. The recurring thing for me with new client relationships and I’ll say fantastic scripts and dialogs, and they’ll say I don’t like to use scripts. It’s important to me to stay authentic. And here’s a cool trick you can use all of you that are growing your own brokers and your own loan officers is ask them for directions to their house.

00:35:10:02 – 00:35:26:24
Les McGehee
If you don’t have your phone, ask them for directions to their house and don’t let me get lost because I’ll be on a tight schedule. And what you’ll hear is when someone gives directions to their house, it’s memorized to have all the best facets in it that they’ve learned over time so that none of their friends ever get lost.

00:35:27:09 – 00:35:48:22
Les McGehee
Yeah, right. If they don’t want to call it a script, just stop calling it a script. That’s okay. There’s no reason to terrorize these poor people, yet you could call it the words that work. Are you using the words that work that help navigate the client to the appropriate outcome? Or are you using some crazy words that prevent them from following you to the positive outcome?

00:35:49:06 – 00:36:11:02
Les McGehee
And I’m comfortable with scripts and dialogs and moving around in between yet, you know, I grew up in an environment with scripting and so it doesn’t bother me. You know, Shakespeare wrote scripts. He’s pretty smart. A lot of, you know, the guys that won the Academy Awards this year and they sure got paid well for scripting. I don’t have this bad connotation on scripting yet.

00:36:11:07 – 00:36:29:22
Les McGehee
You have to at least commit to the words that work. Right. And and the other objection I get on that, Dan, is I did a set of scripts, yet they don’t look great. I don’t know if they will work or not. And phrase that my clients have to put up with me saying pretty often is I’m sorry and congratulations.

00:36:30:21 – 00:36:55:07
Les McGehee
Right? I’m sorry that you don’t know if the if this is the right answer yet because you haven’t tested it or done a thing with it yet. Congratulations on finally getting started on something you can’t win without him. You got to start somewhere and something something that your clients that are on this and my clients as well, all of you all would do really well knowing how Dan grows his business through split testing.

00:36:55:23 – 00:37:01:18
Les McGehee
So if you feel compelling that you have two scripts, use them both and track their effectiveness.

00:37:01:18 – 00:37:02:04
Daniel Ramsey
That’s right.

00:37:02:11 – 00:37:21:02
Les McGehee
And they’ll tell you which one is best. It’d be. All right. All right, let’s. Another exercise right here. This is called a multiplier. So get your fresh piece of paper out. We’re going to look at this a slightly different way and we’re going to go quickly. All right. It helps to go quickly on this right now in your 2018 production, don’t have an emotional reaction to it.

00:37:21:02 – 00:37:39:00
Les McGehee
Just write that number down. I will tell you that according to our history, about a third of you don’t know how much money you made last year unless you just did your taxes. So we could also point out that there are no great professionals who are going to double their business that don’t know their numbers. It doesn’t exist.

00:37:39:16 – 00:38:00:04
Les McGehee
There are no people doubling of business that don’t know their numbers. It’ll come up again. Okay, so write down your 2018 production and now double it and ask yourself that question there. On number two, can you hit that larger number annually within two years using the methods and strategies and tactics that you have in your business right now?

00:38:00:19 – 00:38:22:19
Les McGehee
And if the answer is is know that if the answer is I cannot hit that number, then you stop right there. That’ll be okay. If your answer is yes, I can make that number every year using all the exact same techniques and strategies I’m using now. Double that sucker again. Okay, you’re doubling it until it’s out of reach with your current systems and tactics.

00:38:23:05 – 00:38:50:20
Les McGehee
And then when you admit that, oh, there’s a number I cannot get to with my current systems and tactics, then that’s the next level. That’s the one that’s right beyond your grasp right now. It’s right beyond your fingertips. Yet you’ll have to. Now you have a format for asking yourself questions, Well, then what are the strategies, relationships, techniques, systems and leverage of people working at that next level?

00:38:50:20 – 00:39:10:07
Les McGehee
They’re not hiding it from you. Veterans love to tell people what they’re doing. Let them say give them a little ego like Dan did to me to get me talking today. Give them a little positive ego and say, you know, you have a fantastic business. I aspire to having a business at your level. By the end of the year.

00:39:10:19 – 00:39:30:17
Les McGehee
How do you how do you navigate database for 10,000 people? How do you do this? How do you do that? Do you really practice scripts? You really say them out loud like an actor before you pick up the phone in the morning. Are you like me? Just practicing on unsuspecting clients? Warming up on unsuspecting clients is not a very nice way to be shy.

00:39:30:17 – 00:39:54:23
Les McGehee
Anyway, now that you have this number that’s beyond your reach, you get to ask yourself the questions of what happens at that level. And there’s another way that you can create a list of what are the stepping stones from where I am now to that other level, what are the missing things I can go acquire skill set a database, whatever it is that I can go acquire, you know, a small team as we’re going to see that might be it.

00:39:55:16 – 00:40:17:05
Les McGehee
So between those two exercises, you have a pretty good idea of which portions of your business are not going to allow you to grow yet so you can get them up to health is a good way to look at that. And then with this, you get to ask yourself specific monetary questions about what are the systems, activities, relationships and people on the team at that next level.

00:40:17:09 – 00:40:19:23
Les McGehee
And you can build yourself an action plan to get there.

00:40:20:09 – 00:40:43:20
Daniel Ramsey
I love I love what you’re going. And I think we’re going to get close to wrapping up on that. What’s cool about this is you’ve given somebody an easy to work with framework of ten items to kind of celebrate and then a way think about what do I need to do in order to double my mortgage business? I think that’s phenomenal.

00:40:44:13 – 00:40:58:13
Daniel Ramsey
What are some of the pitfalls as you’re doing this list and as you’re considering thinking through, you know, what it would take to actually double? What are some of the things that you’d caution people to avoid in that in that space?

00:40:59:02 – 00:41:27:18
Les McGehee
Yeah. Thank you, Dan. That’s a very appropriate question. The first thing I’d say is don’t throw money at it. Most of these things are not money items other than, you know, Dan’s suggestion that you grab a marriott suite and take a personal retreat, that that sort of money expenditure is probably a good, strong justification. Yet some people will be inclined to go by a massive number of leads, even though they didn’t plug the hole in their bucket.

00:41:27:18 – 00:41:28:20
Les McGehee
So what happens then?

00:41:29:04 – 00:41:30:10
Daniel Ramsey
Right? They get worse.

00:41:31:03 – 00:41:35:13
Les McGehee
They’d set themselves up for a horrible year. So don’t we don’t.

00:41:35:16 – 00:42:01:09
Daniel Ramsey
About what you’re talking about is money, you know. So the difference between a small business and a large business is that a large business just made more correct decisions than us. And that’s the only that’s the only difference in what you’re talking about, is this, you know, doubling is not a money thing. It shouldn’t be an investment. You don’t have to take all of your hard earned net profit and dump it because this is a thing.

00:42:02:08 – 00:42:21:09
Daniel Ramsey
So I’m talking to a client the other day and he goes, I’m investing in my business. And because I’ve been doing this for 17 freaking years, when I hear that, I know that means he made no money last year. He’s reinvesting in business. And right then and there I knew he needed me to slap him across the face and break down.

00:42:22:06 – 00:42:42:06
Daniel Ramsey
You know who’s on his team, what are the technology platforms that he’s using? What are the processes that you’re currently kind of looking at? And what what had happened is he’d gotten lazy from discipline and his team wasn’t prospecting leads the way that he originally grew the business to do. And so I think.

00:42:42:11 – 00:43:03:21
Les McGehee
That I’ve had that conversation so many times that I get images in my mind that crack me up, like people standing there poking themselves in the eye and they’ll say, Do you have any idea why my darn eye hurts so bad? You know, you’re so smart about business. Do you have any idea why this really hurts when I do this and you say, have you considered not doing that and reconsider?

00:43:03:21 – 00:43:26:04
Les McGehee
You know, not harassing that I’m non stop with the end of your pointer finger, you know, and they’ll say, oh, that’s a very interesting notion and just continue to poke themselves in the eye like and the so if you’re not speaking to your database, don’t go spend a bunch of money on something, speak to your database, pick 100 of them and do it manually and start and find a couple of notes.

00:43:26:04 – 00:43:50:22
Les McGehee
And if you desire to buy Infusionsoft or something like this to go up a level on your communications or whatever movement, get an assistant to help you move into whatever great system, your brokerage supplies or something like that. Go find the note that pays for that, right? Pay it forward. Right. If I’m going to $12,000 on the year to do that, I guess I’ll go find myself $12,000 worth of commission real quick.

00:43:51:09 – 00:44:13:23
Les McGehee
Right. And points and still get some points, points or pay for that stuff. And so don’t go backwards. Don’t overinvest the script and the call. Let’s start at the very beginning. If you’re not calling 20 people a day, don’t spend a dime. Start calling people right to start calling. And if you need a reason to call them, I’ll give you a starter reason.

00:44:13:23 – 00:44:30:03
Les McGehee
If you’re this cold on your list that you can’t remember, a good reason to call these people that you haven’t been speaking to. Maybe you’re embarrassed. I get it. I empathize. You might be embarrassed that you told them you’d stay in touch with them, and then you disappeared for years. Yet go ahead and own up to that and be authentic.

00:44:30:09 – 00:44:51:11
Les McGehee
One of the best calls to help rekindle your spear and rekindle your database is I’m with a company. I get to open up a new number of notes this year. And I was thinking, who do I wish I could work with again? And I’d say, to reach out to you, I’d like to update your information in the database and you’re going to ask some questions about are they moving soon?

00:44:51:11 – 00:45:22:08
Les McGehee
Do they still work for the same company that they did? And listen really carefully. You know, the a lot of you have been trained I don’t want to bad mouth any particular you know Todd Duncan would agree with me let’s put it this way Todd Duncan would agree with me and some of your other influencers that that I’m really proud to share this environment with would agree with me that this is a human business and that you you ask questions so that you get to listen.

00:45:23:01 – 00:45:40:03
Les McGehee
And in the listening there’s gold nuggets all over the listening. Yet if you’ve been trained to pepper them with questions because a good professional asks 99 questions, somebody didn’t tell you the second half of that, which is the question was a reason to listen. The question was a reason to listen.

00:45:40:08 – 00:45:51:09
Daniel Ramsey
You know, somebody the other day we’re talking about some scripts and dialogs and I really respect this guy. And he says, hey, one of my favorite new ones is that’s so amazing. Less Can you tell me more.

00:45:52:09 – 00:46:03:09
Les McGehee
Yeah yeah and the coach have it quotes that is one of their favorite ones is when you think about buying this next time, when you think about selling your home, what’s on your mind.

00:46:03:20 – 00:46:04:03
Daniel Ramsey
Right?

00:46:04:15 – 00:46:23:18
Les McGehee
And what else and what else and what else. Yeah and what else? Yeah, yeah, yeah. And then we have value to them, you know, listen carefully and be value. These are human beings and every single one of them has a universal people around them and their children are watching and their siblings are watching and their neighbors are watching.

00:46:24:06 – 00:46:42:14
Les McGehee
You do a good job. It is such a stressful transaction that when you do a good job, it is so natural for them to talk about how amazing you are. Yeah. All right. I used to stand there watching audiences applaud, and I’d be like, okay, we’re pretty good. Yet when y’all are ready to cut it out, we get to go get a beer and go home.

00:46:43:09 – 00:47:03:16
Les McGehee
All right? And they just want to applaud and applaud. This is what you’re missing out. If you’re not allowing your clients to show gratitude and have ongoing conversation with you, you’re just missing out on that whole part. And I recognize that the clothes that we admire, they’re all getting 80% of their business out of their databases.

00:47:03:24 – 00:47:33:16
Daniel Ramsey
You know what’s crazy about this call? Yesterday I did this fantastic webinar and this call and that webinar gives me hope. But also me nervous. And I’ll tell you why, because if you’re listening to this and we’re going to send it out to over half a million people, we’re going to send this out to everybody we can everybody in our database is going to get a copy of this because it’s important, because this is not some mind blowing lead generation tactic.

00:47:33:16 – 00:48:00:16
Daniel Ramsey
This is not some new technology. You know, this is not a, you know, business. This is the basics. And yesterday’s webinar was just like that. It was just the basics. And yet, regardless, if you’re making a million bucks a year, 5 million, 10 million running a huge team, this what you just went over is the exact tactic to double your business regardless of where you are.

00:48:00:22 – 00:48:06:14
Daniel Ramsey
Like if you’re a $100 million company or you made a thousand bucks last month, this is how you do it.

00:48:06:14 – 00:48:27:07
Les McGehee
Oh, yeah. Yeah, absolutely. Thanks for bringing that up. Dan, there’s no ceiling on doubling and there is no maximum amount of money that can be made in this industry. You know, and if you’re into the comparison game, because they have everybody walk across the stage once a year in your company or something like that, it’s really great to be in the top five of the top ten.

00:48:27:13 – 00:48:46:08
Les McGehee
Yeah, there’s no ceiling. There’s the comparison game has limited value. All right. Now, of course, you will hit the top five in the top ten on your way to becoming what you can be with your business. Yet there is no limit. Make sure you allow the mindset that there is no rule written about how big your mortgage business can be.

00:48:46:08 – 00:49:02:09
Les McGehee
And if you just started, this is how you double it and it’ll double quickly. The cycles will be smaller. All right. You could double your business in a week or a month, depending how you want to measure it. You could double your certainly in 90 days. If you’re a young business, you could double your business in 90 days.

00:49:02:16 – 00:49:24:16
Les McGehee
All right. Do that every quarter for many quarters in a row. And then when you’re a bigger, more involved business with a large footprint, it might take six months to a year to find a doubling. We see extremely few situations, even from the really lucrative companies. We see extremely few situations where they can’t double within a year. Yet you can, certainly.

00:49:25:01 – 00:49:44:16
Les McGehee
And then what are you going to do when you double? Well, you’re going to do this again and you’re going to double. And then what are you going to do? And you’re going to do it again and you’re going to double. There is no ceiling to it and the process repeats. The numbers just get larger. If you have an emotional reaction to those numbers where after you double five times in a row, it makes you feel nervous.

00:49:44:24 – 00:50:10:08
Les McGehee
Now’s the time to go have a little chat with yourself about being ready to receive that money. Okay, that’s just a number. And one more thing. Those of you that are growing yourselves and are being good for the people in this world that are yielding 70 plus thousand dollars into the economy every time that they move from one house to the other of you that are into this, I want you to recognize that not only can you double your business, we really need you to double your business.

00:50:10:14 – 00:50:32:13
Les McGehee
We need the good players who grow themselves, excel and go lead the way in a way that sets out all of our expectations higher and higher and the quality for our clients and the size and the the health of your business. You need to go make the amount of money that you have, the God given potential and the smarts to go make.

00:50:32:13 – 00:50:52:24
Les McGehee
If you don’t, there are people out there with lower skills than you who are not as good for the industry, who are totally going to go grab that money because those people need notes from somebody. Right. All right. So so some people are saying, I like to work with first time homebuyers. I’m good with $100,000. Well, aren’t you a warm, fuzzy professional?

00:50:52:24 – 00:51:00:09
Les McGehee
Okay. I’m saying get out there and make the money that you deserve, because if you don’t, it could go to other people that we’re not crazy about them making more money.

00:51:00:18 – 00:51:32:24
Daniel Ramsey
Well, the other the other thing that I want to point out here is that as you grow your business, you have to work less and you get more opportunity and you get more vacation and my favorite thing is you have more impact my out as we we started a nonprofit. We’ve been doing kind of charity work since 2013 and like we built orphanages and the more you double, the more your world gets bigger, the more people get brought into the world, the more impact you can have, the more opportunities you can provide for people.

00:51:33:14 – 00:51:46:22
Daniel Ramsey
And it gets easier. Like it doesn’t get harder. People think it gets harder. Oh, I’ve got to work harder. That’s not the case. What? What it means is you’ve got to focus differently, is, is what I would say. And so the increased.

00:51:47:00 – 00:52:09:13
Les McGehee
Focus as we grow. That’s exactly that’s a great way to put it. Dan, like we were talking about those racecar, if you’re going to putter at 30 miles an hour, you might be okay at your level of focus. Yet if you’re ready to go highway speeds, you will need to up your focus game. And if you’d like to go to the take my car to the race track day and take it up to 150 miles an hour or something, you’ll be increasing your focus and your alignment.

00:52:09:20 – 00:52:28:20
Les McGehee
It doesn’t get harder, does not get harder. In some ways it gets easier. In some ways things have more impact. And so there if you allow it, there could be more pressure yet you need to grow to your potential if you’re not recognizing your potential. There’s a lot of other things that are going to go wrong in the business if you make too much money.

00:52:29:03 – 00:52:50:01
Les McGehee
I’m glad you’re the sort of person that’ll give some of it a great resource like Dan’s talking about doing. If you don’t make enough money and we’re sick of covering your bills and you making it a weak industry, you need to go double your business. I’m serious about that. You have the ability to double your business. You need to go double your business, make this whole industry stronger, and take care of those clients.

00:52:50:01 – 00:53:11:21
Les McGehee
The we often tell people they’re not making enough money. We have clients that that, you know, have a million in income a year, millions of cash in the bank and plenty of properties. And we have still occasionally seen somebody get knocked down by something that nobody but that could have prevented. Right. Make that money. Come on, make that money.

00:53:11:22 – 00:53:33:00
Les McGehee
Grow that business. We’re ready for it. And it’ll make the whole industry stronger. And we’re here to help you. We have a absolute lean towards people that grow themselves, and if you’re into growing yourself, you are invited to reach out and use our resources. And I really hope that you take us up on a business assessment. We need you to grow your business in this.

00:53:33:07 – 00:53:49:01
Les McGehee
The supply and demand adjustment that’s about to happen industrywide. It’s going on already. It’s been going on for about five months or six months in a lot of regions. And if you think about it, if you hadn’t thought about it before, if you think about it now, you’d probably see it going on in your region by now, right?

00:53:49:01 – 00:54:06:09
Les McGehee
All this spring, it’s pretty much coast to coast. And so where are you going to be in that shift? Are you going to be one of the champions that pulls us forward in the brave new world of this large, large economic indicator that is good for human beings in your community? Yeah, right. Let’s go.

00:54:06:23 – 00:54:30:08
Daniel Ramsey
Hey, so talk about. So we’re now in the in the in the part where we talk about your three coaching tools that you’re giving away again. And then also if you jump on on to this and kind of register, we’ve got a, you know, a free strategy call last is going to kind of break down how to double mortgage business and the wildness is what he’s just talked about.

00:54:30:08 – 00:54:57:08
Daniel Ramsey
And just be clear, guys. There’s like there was like a bazillion slides that we didn’t even get to because of how good the first two were. Like, Honestly, I know it’s back to basics. You know, you think about football, it’s blocking and tackling. There’s nothing sophisticated about growing a business. But here are some stats, right? There are 28 million businesses and only 996 of them, 96% of them never, ever, ever actually get revenue above $1,000,000.

00:54:57:15 – 00:55:16:04
Daniel Ramsey
Most people never even bother to get to this level that we’re talking about. Right. And unless has got a heart to help and he wants to help you know, kind of bring that about. So we’ve got, you know, a landing page all set up for you. What are they going to get if they choose to do a consultation with you?

00:55:16:04 – 00:55:35:22
Les McGehee
All right. So one of the documents that you have to work from is called the Rialto Way, and it has those ten items that are in every entrepreneurial business. It also for self-growth items and also has what the three buckets are going to be on your one page business plan. And we’re also going to give you the one page business plan.

00:55:36:04 – 00:55:55:00
Les McGehee
And the one we chose for you is the quarterly plan because you don’t have to wait all year. Okay. You can double your business in a good quarter. All right. So we want to bring that to your attention. 90 days is about 55 business days. Generally speaking, depending on what’s on your calendar and you can get a lot done.

00:55:55:00 – 00:56:23:01
Les McGehee
So we gave you that one page plan that will allow you to focus on what matters most. And we’ve even given you some paint by numbers, too, so that you don’t need a separate course on how to build a one page business plan. And so that’ll help you a bunch. And then we have a thing called The Story of Now, which is when you tell the story in five years, when you have doubled your business more than once in five years, when you tell the story to your family over how it happened, this is what it looks like.

00:56:23:07 – 00:56:44:20
Les McGehee
And so so the story of now gives you a five year outlook, kind of a draft of a five year plan. The quarterly plan gives you a robust quarter that you can dove into right now to double. And the Rialto Way is a worksheet you can use as a resource to remind you about these flow items and what items are going to be involved in getting there.

00:56:45:02 – 00:57:06:07
Les McGehee
And then the business assessment is where all that comes together, the mortgage business assessment. You’ll be with a master coach who has grown many mortgage businesses, me or one of my master coaches. We have a little team of coaches, and in that assessment, you’re not going to find out, you know, should I be in coaching or shouldn’t tie or something like that?

00:57:06:07 – 00:57:27:24
Les McGehee
That’s the tip of the iceberg. The question is, what is your growth plan going to look like? Does it give you massive confidence to dig in and double like you are supposed to and like you can? Right. So what would your plan specifically look like? You can expect to leave that business assessment knowing what has to happen next in your business, what that plan looks like.

00:57:28:05 – 00:57:46:00
Les McGehee
And if you did commit to an action plan with a coach, a mentor, a peer, the branch manager at its highest level, a coach, somebody is trained how to do this sort of thing at a really high level with accountability and knowledge of business systems. If you choose to do that, you’ll know exactly what that plan looks like.

00:57:46:10 – 00:57:57:13
Les McGehee
So you have the freedom of choice. Here is the moment of truth. You had the freedom of choice to do it or not will tell you the darn answers right we have the freedom of choice. It’ll be up to you whether or not you do it right.

00:57:57:13 – 00:58:24:06
Daniel Ramsey
And the only risk is that they learn like literally you spend some time with less and you learn less. MCGEE Rialto Academy. We are. We’ve done an hour together, man. I really appreciate you. Thanks for everything. And if you’re listening, a double is absolutely in your in your future. Yeah. Mr. Geddes tools thanks for your time today, Les.

00:58:25:01 – 00:58:36:11
Les McGehee
Thank you, Dan. And all all your people at my desk, too. You guys always do such a great job. It was great to share this time with you. And thank you, everybody. If you’re going to grow yourself, we’re here to give you a hand.